5th Final Wave
AB = CD : Both these wave are impulse waves and impulse waves are made of 5 counts.
Market is in its 4th correctional stage of impulse wave (CD)
4TH wave is holding support at 50% correction of wave 3, this level also intersects with 50MA (tells us how strong the level is for possible bounce off.
If wave 4 breaks this level and trades bellow wave 1 the entire setup becomes invalid.
Pay attention to lower timeframe price action around the level for entry on buying 5th final wave.
Market is in its 4th correctional stage of impulse wave (CD)
4TH wave is holding support at 50% correction of wave 3, this level also intersects with 50MA (tells us how strong the level is for possible bounce off.
If wave 4 breaks this level and trades bellow wave 1 the entire setup becomes invalid.
Pay attention to lower timeframe price action around the level for entry on buying 5th final wave.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.